EU energy ministers want to lower electricity usage by 10%.
It was reported on Friday that the energy ministers of the EU asked all of the EU’s member states to take action to reduce their overall power use by at least 10%.
According to a draft paper that the WSJ has seen, the European Union should cut its use of power by at least 5 percent during the hours in which prices are at their greatest.
At the beginning of this summer, the EU requested that its members bring their annual gas use down by 15% beginning this autumn and continuing through the winter.
Even though it was first presented as a proposal, the door has been kept open for it to be demanded at some point in the far future.
Friday, ministers said the framework they created to decrease gas usage by 15% could be used to today’s aim to reduce electricity use by 10%.
According to the Wall Street Journal, a number of nations have made it clear that they are on board with the proposal to limit power.
EU energy ministers met Friday to discuss skyrocketing energy prices and a price cap on Russian natural gas.
The committee came to the conclusion that more investigation was necessary, however the discussion concluded without any definite action items being discussed.
The middle of September is the target date for the submission of proposals to control the price of Russian gas, a controversial step that detractors assert would be ineffectual.
Russia, for its part, has pledged to withhold gas deliveries to nations participating in price capping, threatening to let Europe freeze if it runs against to Russia’s interests.
Russia says price limiting unfairly competes with its natural gas exports. Despite this, the EU appears keen to prove it’s serious about reducing Russia’s oil and gas exports.
Today’s emergency session is only the latest of several steps the EU has taken to alleviate economic upheaval caused by industry closures and to prevent energy price protests.